162 Burke St · River Rouge, MI 48218

$399,900

42 bd · 36.0 ba · 2,692 sqft · MultiFamily · 4 Days on market

Built 1957 Good condition 7,841 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.1/30.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +0.5/10.0

Listing remarks

Excellent investment opportunity! Fully occupied 6-unit multifamily property offering immediate positive cash flow. Several units have been beautifully updated with remodeled kitchens and bathrooms, providing modern finishes that tenants appreciate. Property features coin-operated laundry for additional income and convenience. Well-maintained with strong rental history and stable occupancy. A turnkey investment with income from day one, making it a great addition to any investor's portfolio. Don't miss this opportunity to own a solid income-producing property! BATVAI

Key facts

• Stable occupancy
• Remodeled kitchens
• Remodeled bathrooms

Tags

• 6 UNIT MULTIFAMILY PROPERTY
• REMODELED KITCHENS
• REMODELED BATHROOMS
• COIN OPERATED LAUNDRY
• STRONG RENTAL HISTORY
• STABLE OCCUPANCY

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $178/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Cap rate 9.7% vs local median 8.1% in River Rouge — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, schools F, crime F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 3.55×
• Total profit: $285,818
• Equity at exit: $360,262

10-year hold

• IRR: 28.2%
• Equity multiple: 8.04×
• Total profit: $788,516
• Equity at exit: $776,918

Cash invested: $111,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 40.5×

Monthly cashflow live

• Estimated rent: $4,932 medium
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $1,066

Break-even live

Break-even rent $3,582

Max offer price $399,900

Occupancy floor 73%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$4,932
Total (6 units)			$4,932

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $399,900 Active 4 DOM
2. 2026-06-17
   days on market $399,900 Active 3 DOM
3. 2026-06-16
   days on market $399,900 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $399,900 Active 1 DOM
5. 2026-06-15
   days on market $399,900 Active 2 DOM
6. 2026-06-13
   remarks 573-char remark
7. 2026-06-13
   pricelisting id $399,900 Active 1 DOM
8. 2026-05-26
   listed $400,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,184
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,797
• − Repairs & maintenance: −$4,735
• − Management: −$4,735
• − Depreciation: −$11,633
• Taxable income: $6,885
• Est. tax owed @ 24.0%: −$1,652
• After-tax cash flow: $11,142/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This fully occupied 6-unit multifamily property offers immediate positive cash flow and is in good condition with modern updates. It presents a solid investment opportunity with potential for minor cosmetic improvements to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract tenants.
• Rental HVAC maintenance and tune-up — A well-maintained HVAC system ensures comfort and reduces utility costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract tenants. ↑
• Rental HVAC maintenance and tune-up — A well-maintained HVAC system ensures comfort and reduces utility costs for tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment F Housing B+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% Other Indo-European 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 77.93%
• Current HPI: 352.3551
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

1 event — show timeline

• 2026-05-26 Listed $400,000 FSBO.com